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Mark interviews economist Steve Moore. · The Mark Simone Show

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  Speaker 1: Mark Simone on 710WOR.
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  Speaker 2: Well, we turn now to the brilliant economist Steve Moore,
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  Speaker 2: best-selling author. You should get his latest book, The Trump
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  Speaker 2: Economic Miracle. You'll learn a lot from that book. Also,
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  Speaker 2: he runs the Committee to Unleash Prosperity. They put out
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  Speaker 2: the best daily briefing. It's great news and analysis. Go
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  Speaker 2: to UnleashProsperity.com. It's free. It'll come right to your email.
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  Speaker 2: Just sign up for the hotline. Go to UnleashProsperity.com. Steve Moore,
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  Speaker 2: how are you doing?
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  Speaker 1: Hey, Mark. Good to be with you. Thanks for having me.
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  Speaker 2: Hey, we've got to do something about the high price
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  Speaker 2: of diesel, mostly caused by the Ukraine-Russia war. The president
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  Speaker 2: wants to ban exports. That's not the way to do it,
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  Speaker 2: is it?
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  Speaker 1: No, it's not going to work. And that will actually
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  Speaker 1: make gas prices higher. It won't really bring down diesel prices,
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  Speaker 1: so bad idea. But, you know, politicians, when they face
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  Speaker 1: a crisis, they have to do something, right? It's a
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  Speaker 1: bad idea to have to. So there's a better idea,
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  Speaker 1: by the way. One is to, you know, let's get
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  Speaker 1: that Strait of Hormuz open, which, by the way, if
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  Speaker 1: that happens, we're going to have the best booming economy
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  Speaker 1: ever because everything else in the economy is going so great.
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  Speaker 1: It's just the gas prices are so high, people are angry.
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  Speaker 1: and andrew you know rightfully so uh... so i've got
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  Speaker 1: a couple ideas of what is that you know i've
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  Speaker 1: recommended the white house let's just on the gas tax
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  Speaker 1: the federal gas tax until the price of gas goes
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  Speaker 1: back down you know below state three fifty a gallon
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  Speaker 1: that would save us about twenty twenty five cents a
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  Speaker 1: gallon if we did that and the second thing i
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  Speaker 1: would do uh... mark is that we're done you know
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  Speaker 1: there's always blending requirements uh... you know for whether the
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  Speaker 1: reason we have refineries is that you know the pump
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  Speaker 1: out of the oil that's called crude oil Then it
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  Speaker 1: has to go to the refineries, and they have to
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  Speaker 1: add in ethanol and corn and all these other, you know, stuff.
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  Speaker 1: And that adds about, you know, 30 cents a gallon
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  Speaker 1: to the price of a gas at the pump. So
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  Speaker 1: why not, you know, at least temporarily? Why do we
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  Speaker 1: have to put corn in our tank?
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  Speaker 2: Was that because of Iowa?
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  Speaker 1: You know what the answer to that is? Yeah, exactly.
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  Speaker 1: I have a two-word answer to my own question. Chuck Grassley,
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  Speaker 1: and by the way, I like Chuck Grassley. I've known
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  Speaker 1: him for 40 years, but he's a 92-year-old senator from Iowa,
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  Speaker 1: and he's the one guy who keeps the ethanol subsidy
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  Speaker 1: alive because it's a big deal in Iowa. But, you know,
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  Speaker 1: the other thing is we haven't built the infrastructure we
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  Speaker 1: need in this country for our energy revolution. You know,
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  Speaker 1: remember the Democrats blocked all the pipelines that we need,
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  Speaker 1: you know, to get the oil from Texas to the Northeast.
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  Speaker 1: from North Dakota to the Northeast. And then, you know,
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  Speaker 1: we need refineries. We need LNG terminals. And the left
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  Speaker 1: has just blocked all of those. And so that makes
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  Speaker 1: gas at the pump a lot more expensive as well.
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  Speaker 2: Yeah, we have so much oil, more than we could
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  Speaker 2: ever use. But we haven't built a refinery since the 70s, right?
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  Speaker 1: Yeah. So it's like 1979 or something. Don't quote me
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  Speaker 1: on that, but it's been a long time. Wow.
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  Speaker 2: Hey, Steve Moore, I love reading the hotline every day.
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  Speaker 2: It's free. You can just go to UnleashProsperity.com, sign up.
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  Speaker 2: So states that are, everybody's leaving here, leaving California, what
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  Speaker 2: states are doing the best getting people moving into them?
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  Speaker 1: Yeah, so we just published that data. It was in
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  Speaker 1: our hotline today. So if you look at the number of,
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  Speaker 1: you know, which, as a percentage terms, which states have
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  Speaker 1: lost the most and gained the most, the states that
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  Speaker 1: have gained the most are states like Idaho and, Florida, obviously,
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  Speaker 1: it's a big state, but even as a big state,
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  Speaker 1: it's gained a lot of percentage population. Another one is Utah.
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  Speaker 1: All those people in California are leaving for Utah and
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  Speaker 1: Idaho and Montana. By the way, I'm not sure the
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  Speaker 1: people in Montana and Utah are so excited about California
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  Speaker 1: coming in. But on the East Coast, not surprisingly, New
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  Speaker 1: York and New Jersey keep bleeding people, and they tend
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  Speaker 1: to be the most successful people, the higher-income people who
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  Speaker 1: pay the tax revenues. So it's a big problem. And
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  Speaker 1: in fact, in terms of money, the states that have
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  Speaker 1: lost the most money, because we know the incomes of
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  Speaker 1: these people. And so it's a big deal that they've
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  Speaker 1: lost so many millionaires and billionaires. I mean, if you say, oh,
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  Speaker 1: we hate millionaires and billionaires, guess what? They leave. That's why,
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  Speaker 1: you know, these talks by Mondami and then California, millionaire tax,
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  Speaker 1: billionaire tax, you know, tax them. They'll just leave. And
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  Speaker 1: they do. And a lot of them have left already.
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  Speaker 2: But the problem with living in Idaho is you have
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  Speaker 2: to live in Idaho.
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  Speaker 1: I don't know. I was just in Sun Valley for
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  Speaker 1: about a three-day conference about a week ago. I've got
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  Speaker 1: to say, it was one of the most beautiful places.
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  Speaker 1: By the way, Idaho real estate prices have tripled in
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  Speaker 1: the last 10 years because so many people are moving in.
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  Speaker 2: And, hey, you wrote about Colorado. They've got a millionaire's
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  Speaker 2: tax that is, what, it's totally backfiring?
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  Speaker 1: Well, Colorado is one of the– I've written a lot
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  Speaker 1: about Colorado. It's the one blue state that really works.
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  Speaker 1: They've had a really good governor there who's a Democrat,
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  Speaker 1: but a pro-growth Democrat, and they have a tax and
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  Speaker 1: limitation measure, and they have a flat tax. I think
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  Speaker 1: it's 4.9%. And so Colorado has done very well. And
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  Speaker 1: now they want to get rid of their flat tax
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  Speaker 1: and raise it from 4.8% to 8.4%. And they want
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  Speaker 1: to get rid of their spending limitation measure. So they're
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  Speaker 1: going wacko in Colorado. And that will be on the
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  Speaker 1: ballot in November. So we'll see if the Colorado voters,
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  Speaker 1: you know, vote for Soak the Rich because Soak the
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  Speaker 1: Rich never works. Yeah.
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  Speaker 2: Well, hey, you had this great story today. You know, A.I.,
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  Speaker 2: A lot of people are against it. I can see
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  Speaker 2: why the news media is against it. It is killing
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  Speaker 2: their business on their websites, isn't it?
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  Speaker 1: This is a really amazing story, and I'm just starting
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  Speaker 1: to learn about it, but it could completely change the
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  Speaker 1: way media works, you know, forever. And it could do
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  Speaker 1: great damage to what I call the legacy medias, which
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  Speaker 1: are the CNNs of the world and the Washington Post
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  Speaker 1: and the New York Times, etc., because the what's happening now,
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  Speaker 1: do you know, do you get chat, do you use
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  Speaker 1: chat GPT on your, like when you do, if you
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  Speaker 1: notice when you do Google searches now, it immediately drives
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  Speaker 1: you to, you know, uh, you know, in other words,
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  Speaker 1: instead of listing all the, you know, things, it, it,
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  Speaker 1: it drives you to pick, you know, two or three
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  Speaker 1: major ones. And then what people are doing is they're,
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  Speaker 1: instead of like going to the New York times website and,
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  Speaker 1: you know, just per using all the stories, uh, if
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  Speaker 1: they'll just look at the one story itself what's happening
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  Speaker 1: is that the number of views for these online publications
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  Speaker 1: like the new york times watch post is fallen by
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  Speaker 1: forty percent wow and that's how they get their revenues
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  Speaker 1: rightly that they get the revenues from the ads you
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  Speaker 1: know when you write read a new york times story
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  Speaker 1: they put the ads in there well guess what nobody's
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  Speaker 1: gonna buy ads if they have if the people are
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  Speaker 1: i'm viewing the story so this is a bit this
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  Speaker 1: could cause a revolution and uh in how ai is
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  Speaker 1: changing the way we gain information and it could put
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  Speaker 1: new york times and washington post out of business i
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  Speaker 1: know that you'd be very sad about that mark.
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  Speaker 2: Well it could also hurt the new york post too
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  Speaker 2: because uh yeah.
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  Speaker 1: Right no but it's affecting all of the kind of
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  Speaker 1: those new york posts too and so i don't know
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  Speaker 1: how this is going to turn out but um you
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  Speaker 1: know ai is is uh is really dramatically changing things
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  Speaker 1: just in the last few months.
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  Speaker 2: Yeah hey the the The president spends the whole day
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  Speaker 2: with President Xi, China. What's the point of this? Whatever
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  Speaker 2: agreement you make with China, they're never going to stick
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  Speaker 2: to it. So why even bother?
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  Speaker 1: You know, I'm totally skeptical, too. And, you know, I
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  Speaker 1: love Donald Trump, and he certainly knows the art of
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  Speaker 1: the deal. But this is, you know, we know now
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  Speaker 1: we can't trust China. We know that their main goal
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  Speaker 1: is to knock off America as the as the world
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  Speaker 1: economic superpower. And so, you know, it's like, remember the
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  Speaker 1: famous story of Khrushchev, you know, in the Soviet Union
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  Speaker 1: when he came back from his visit to the United
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  Speaker 1: States and he said, we will bury you. Well, that's what,
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  Speaker 1: you know, let's face it, that's what President Xi wants
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  Speaker 1: to do. He wants to bury us. So, you know,
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  Speaker 1: the most dangerous snakes are the ones that smile at
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  Speaker 1: you before they bite you. And that's what President Xi is.
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  Speaker 1: He's a snake. And they're out to get us. So,
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  Speaker 1: and look, Trump is smart enough, I hope, to, you know,
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  Speaker 1: see through this, you know, that you have to treat them.
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  Speaker 1: And by the way, Trump, remember, Trump got elected in
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  Speaker 1: Perkins River, China. We have to do that, China.
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  Speaker 2: Well, we'll see what happens at the end of the day.
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  Speaker 2: But Steve Moore has a great book out called The
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  Speaker 2: Trump Economic Miracle. Get the book. And boy, I love
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  Speaker 2: that hotline you put out every day. Best news, best analysis.
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  Speaker 1: Thank you.
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  Speaker 2: And it's free. Just go to UnleashProsperity.com. And Steve Moore,
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  Speaker 2: thanks for being with us.
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  Speaker 1: Great to be with you. Have a great weekend. Take care.
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  Speaker 2: All right. Take care. Yeah, the problem with AI, you
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  Speaker 2: used to Google search something like Google, what's the meeting
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  Speaker 2: with President Xi today? And Google would give you a
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  Speaker 2: bunch of things to go to. You could go to
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  Speaker 2: the New York Post website. You could go to the
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  Speaker 2: New York Times website. And you'd click on these websites.
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  Speaker 2: Problem is, now you Google search, AI gives you the answer.
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  Speaker 2: So you never have to click on any of those
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  Speaker 2: news sites, and they don't get any credit for any clicks.
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  Speaker 2: But I didn't realize they're down 40% because of AI.
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  Speaker 2: That is so dangerous for them. Hey, coming up at noon,
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  Speaker 2: Buck Sexton and Clay Travis. And then, 3 o'clock, you've
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  Speaker 2: got the most listened to radio show in America, Sean Handy.
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  Speaker 2: I'm here now three hours every day, 9 to noon.
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  Speaker 2: 9 to noon every day. And, of course, from 6
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  Speaker 2: to 9, it's Curtis Lewa and Larry Menti here on 710WOR.